Goodyear Tire & Rubber (NASDAQ:GT) Earns Buy Rating from Analysts at TD Cowen

TD Cowen started coverage on shares of Goodyear Tire & Rubber (NASDAQ:GT) in a research report released on Friday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $14.00 target price on the stock.

Several other equities research analysts have also recently issued reports on GT. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.18.

Goodyear Tire & Rubber Stock Up 9.1 %

GT stock opened at $9.79 on Friday. The firm has a market cap of $2.79 billion, a PE ratio of 40.79 and a beta of 1.79. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The firm’s fifty day moving average is $9.09 and its 200 day moving average is $8.96. Goodyear Tire & Rubber has a one year low of $7.27 and a one year high of $13.86.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. On average, research analysts forecast that Goodyear Tire & Rubber will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP increased its holdings in shares of Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after buying an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Goodyear Tire & Rubber in the 3rd quarter valued at about $45,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth about $46,000. Signaturefd LLC lifted its position in shares of Goodyear Tire & Rubber by 61.2% during the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after purchasing an additional 1,997 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.